Ladbrokes Owner Entain Post Strong H1 Results

The owner of Ladbrokes Coral, BetMGM and other well recognised iGaming brands Entain plc, have this morning released their Half Year Interim results for 2021 and like their competitors Flutter Entertainment, they show solid revenue growth on the previous year.

Due in part to a now fully open and packed sports schedule, revenue for the first half of 2021 grew by 11% to £1.8bn, while Entain’s online operations saw considerable growth of 31% compared to the previous period in the UK, driven in part by the full sports fixture list and the introduction of new product offerings.

However, retail revenue reduced in the first half of the year, but the company reports encouraging early signs of growth now that Entain’s retail estate has opened up once again.

Commenting on the results, Chief Executive OfficerJette Nygaard-Andersen, said: “The quality and diversification of our businesses has enabled us to deliver our 22nd consecutive quarter of double-digit online growth, while also making excellent progress on our strategic priorities.”

“In the US, BetMGM goes from strength to strength with our position as number 2 operator firmly established in the fast-growing sports-betting and iGaming market,” Nygaard-Andersen continued: “We expect to be operational in around 20 states, representing 33 per cent of the US adult population, over the next 12 months.”

“Entain has a long runway for sustainable growth built into our core business.  In addition, our unique powerful platform puts us at the heart of the convergence of media, entertainment and gaming, providing us with exciting opportunities in interactive entertainment that we believe will further power our growth for many years to come.”

About the Author... Total Posts Written: 1,128
Simon Wright

Simon Wright

Simon Wright has been both a player and an observer of the online casino industry for over 15 years. His knowledge of the online casino industry – to include sports is massive. Not many folks have the experience or his knowledge about online gambling. His adoration of football is also noted. He has painted his house blue (Chelsea) and annoys his neighbors with local football songs on game days.

See More Posts